Ruth contract sells for $1 million

Babe Ruth's $5,000 contract with the Boston Red Sox in 1918 sold at an auction Saturday night for $1.02 million.

The contract included signatures by Ruth, American League president Ban Johnson and Red Sox owner Harry Frazee.

The winning bid represents the highest ever paid for a sports contract. The previous record was for the document that sent Ruth to the New York Yankees in December 1919, which sold for $996,000 in 2005.

Goldin Auctions of New Jersey told ESPN.com that the buyer of the Ruth contract requested to remain anonymous.

The auction, at the Sports Legends Museum in Baltimore, coincided with the 100th anniversary of Ruth's major league debut.

Other Ruth items that sold at the auction included: a bat from early in his career for $215,000 and a signed ball for $96,000. One item that did not sell was the first home run ball that Ruth hit at Yankee Stadium because it failed to get the required $100,000 reserve.